Valued Member
Posts: 35
Registered: ‎08-30-2010
Wells Fargo Unsecured Personal loan denied

OK, I will try to explain my situation which is really not good.


I have 4 credit cards with 19 000 debt Smiley Sad

I have Unsecured Personal loan of 12 000 on which 2600 is left

I have car loan of 21 000 on which 2000 is left 


I tried to apply with Wells Fargo 24000 Unsecured personal loan ( to collect all on one place)  and I was denied.


My pro: 

-I was never late . neither a day with any loan

- I pay my car 54 months, and personal loan for three years

- I am paying 1300 a month for all bill, one loan will be only 550-700 a month


My Con:

- My credit card debt is terrible

- My Fico is 669 and 645 

-I don""t own a house, so I can not use secured loan, but I don't pay rent as wel


My banker told me I was denied , because they are not sure I will not built my credit card debt again. Maybe it will be a joke for you, but I am 1000 % sure i willn ot, since I have plan to close them all.

I know, i should wait few months ( by January 2011 I will pay off my car, by April my loan) and then re apply again.


But I am tired of this cards and would like to see them closed as soon as possible.Is it possible to send them a letter, to re evaluate my loan application, If I promises to close cards somehow to them? is it possible to go somewhere else ( credit union0 even though I am not member, and I am asking for 24 000 unsecured loan)  ?


Anybody that can help me? Thanks.

September 2010: EQ 628, Trans 634, Expir. 641
November 2010: EQ 671, Trans 671, Expir 692
December 2010: EQ 682 Trans 672 , Expir 692
June 2011: EQ 685 Trans 688 Expir 708
Goal : 730